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a combination of allowing the rates on high earners to go back up to what they were under president clinton, and reducing the value of tax deductions and other tax benefits that they get. before i get to how much can be raised by the second, let me just say the president is very, very supportive of curbing tax deductions for high-income households. it's been a part of his plan from his very first budget. in fact, he was and remains the only major leaguer in washington that has put forward a specific, explicit plan that would limit those tax benefits for high- income households that's been examined by the joint committee on taxation, which is the official referee for these issues in congress. that plan, though, doesn't raise the revenue that you need. so out of the president's $1.6 trillion, $950 billion comes from decoupling. decoupling is the high-income rates going away, the middle- class tax cuts becoming permanent. that gets you $950 billion of revenue. the question is could you plausibly replace that revenue just by limiting tax expenditures. there have been lots of different ideas out
a combination of allowing the rates on high earners to go back up to what they were under president clinton, and reducing the value of tax deductions and other tax benefits that they get. before i get to how much can be raised by the second, let me just say the president is very, very supportive of curbing tax deductions for high-income households. it's been a part of his plan from his very first budget. in fact, he was and remains the only major leaguer in washington that has put forward a...
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Dec 4, 2012
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bush or president bill clinton, or president george w. bush or president barack obama, the truth is, at the time they were elected president, we as a nation, overall, got the president we deserved at that time. now, one of the most impressive speeches i've ever heard was given by senator barack obama at the democratic convention, and i love the way he talked about america coming back as one america. not a red america or blue america but america. just one country. and it's one of the things that i drew great hope from on 9/12 delsh 2001 as people of the country -- on 9/12/2001 as people of the country gathered around, as we did in our east texas town, and we all held hands and we sang hymns and patriotic songs and you look -- i look around the circle and was deeply moved because i knew that day there were no hyphenated americans. there were just americans. and we were together. and everybody standing there in that square holding hands, we shared the love for our country. we wanted to see it strong. we wanted to see it recover from that dev
bush or president bill clinton, or president george w. bush or president barack obama, the truth is, at the time they were elected president, we as a nation, overall, got the president we deserved at that time. now, one of the most impressive speeches i've ever heard was given by senator barack obama at the democratic convention, and i love the way he talked about america coming back as one america. not a red america or blue america but america. just one country. and it's one of the things that...
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Dec 5, 2012
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we had higher tax rates under clinton and then lower tax rates under bush. these are policies we have passed in this country that have led to this. it has primarily been under republican leadership. if it does not mean democrats don't have some responsibility. host: peter welch is our guest until the top of the hour. the democrat from vermont, the chief deputy whip for the house leadership on the democratic side. we're talking about the so called "fiscal cliff" and our cameras have been covering all the events here in washington as both sides tried to negotiate their argument with. if you go to our web site, c- span.org, we have a special web pages at a side on the fiscal cliff and you can also send in your tweets. we will go to payton next in london, kentucky, a democrat. caller: thank you. i am one of the original baby boomers. i live in one of the poorest areas in the country, which is also heavily republican area of the country. i have always felt [indiscernible]. host: we are losing you. caller: this constant living curtailment from the republicans is a
we had higher tax rates under clinton and then lower tax rates under bush. these are policies we have passed in this country that have led to this. it has primarily been under republican leadership. if it does not mean democrats don't have some responsibility. host: peter welch is our guest until the top of the hour. the democrat from vermont, the chief deputy whip for the house leadership on the democratic side. we're talking about the so called "fiscal cliff" and our cameras have...
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Dec 8, 2012
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four days ago, we offered a serious proposal based on testimony of president clinton's former chief of staff. since then, there has been no counteroffer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to push our economy right to the edge of the fiscal cliff. instead of reforming the tax code and cutting spending, the president wants to raise tax rates. even if the president got the tax rate hike he wanted, understand we will continue to see $1 trillion deficits for as far as the eye can see. washington has got a spending problem, not a revenue problem. if the president does not agree with our proposal, we believe he has got an obligation to families and small businesses to offer a plan of his own, a plan that can pass both chambers of the congress. we are ready and eager to talk to the president about such a plan. >> you spoke with the president this week. how do you characterize that call? also, we understand that he is making clear that it will have to be increasing rates for the wealthy or no deal. are you willing to give a littl
four days ago, we offered a serious proposal based on testimony of president clinton's former chief of staff. since then, there has been no counteroffer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to push our economy right to the edge of the fiscal cliff. instead of reforming the tax code and cutting spending, the president wants to raise tax rates. even if the president got the tax rate hike he wanted, understand we will continue to see...
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Dec 7, 2012
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bush and clinton administrations. both of you went to the same university. i'm sure you can agree on everything today. dr. zandi first. >> thank you for the opportunity. it is an honor to be here with kevin, a good friend of mine. let me say that these are my own personal views. they don't represent the views of the moody's corporation. lawmakers have to resolve three issues -- first, the fiscal cliff. second, raising the treasury debt ceiling, which as you know is becoming an issue rarely soon. -- an issue fairly soon. third, achieving long-term fiscal sustainability. that is deficit reduction and tax increases and spending cuts that allow the gdp ratio to stabilize by the end of the decade. these three things need to be done now. in terms of the fiscal cliff, if policy is unchanged and we go over the cliff and there is still no change after that, the gdp in 2013 will 3.5 percentage points. subtract that and that is a severe recession. cbo and others are probably us are underestimating how severe that will be because confidence is very weak. it is unclear h
bush and clinton administrations. both of you went to the same university. i'm sure you can agree on everything today. dr. zandi first. >> thank you for the opportunity. it is an honor to be here with kevin, a good friend of mine. let me say that these are my own personal views. they don't represent the views of the moody's corporation. lawmakers have to resolve three issues -- first, the fiscal cliff. second, raising the treasury debt ceiling, which as you know is becoming an issue...
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Dec 8, 2012
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secretary clinton was in algeria to discuss mali among other issues approximately a month ago. the third challenge in mali is terrorism. we are gravely concerned about the presence and activities of terrorists and extremist groups in northern mali. al qaeda in the islamic ma grag, the movement for unity and jihad in west africa known as mujoa, and other affiliated groups have exploited the political unrest created by the march coup and the northern rebel ynt to expand their safe havens in northern mali and to impose their ideology on local communities throughout the northern part of the country. while these tactics remain alien to the vast majority of the population and the affected areas, aqim has established at least temporary relationships with a number of groups in northern mali and currently control the key cities of timbuktu, gal, and kid al. any attempt to militarily ouset a qim must be african led. it must be malian led. it must be well planned, well organized and well resourced to be successful. military plans must also account for civilian security and humanitarian ne
secretary clinton was in algeria to discuss mali among other issues approximately a month ago. the third challenge in mali is terrorism. we are gravely concerned about the presence and activities of terrorists and extremist groups in northern mali. al qaeda in the islamic ma grag, the movement for unity and jihad in west africa known as mujoa, and other affiliated groups have exploited the political unrest created by the march coup and the northern rebel ynt to expand their safe havens in...
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host: what do you think about hillary clinton's future, hillary clinton in 2016? >> i think hillary clinton is the next logical step in a progressive society in america that we need. my grandfather was a democrat in delaware, he served two terms and i think -- i think she's what we really need. and i think that's what we need for the country to move ahead. host: steven an independent in connecticut. good morning to you. caller: good morning, thanks for taking my call. i really like hillary clinton, i think she's a hard worker, i think her old man is a hard worker too and whitewater was like three wars ago. it's a long time ago. but i'd like to see jeb bush also run against hillary clinton. i think those are two no nonsense personalities that can move our nation forward. thanks. host: so hey, steven, if jeb bush, if it's a bush-clinton race, for whom would you vote? caller: oh, gosh. i would lean toward jeb at this point because he has been really pushing education and education is one of my things. so right now he's got me. host: that's stephen, independent. who d
host: what do you think about hillary clinton's future, hillary clinton in 2016? >> i think hillary clinton is the next logical step in a progressive society in america that we need. my grandfather was a democrat in delaware, he served two terms and i think -- i think she's what we really need. and i think that's what we need for the country to move ahead. host: steven an independent in connecticut. good morning to you. caller: good morning, thanks for taking my call. i really like...
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Dec 9, 2012
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long tradition in arkansas, let's not forget one of the great presidents of the united states, bill clinton. we work hard down there but i can't get too specific on our prospects there yet. >> if i could return to the administration for a minute, governor. obviously, some governors are lobbying the white house on what they would like to see happen in some of the fiscal cliffs negotiations and some of the cut thass republicans and others want to make in these negotiations could impact state budgets. what do you see as your bottom line and what the cuts cannot do? -- or should not do. >> let's be clear about this, the president has this one right. we cannot balance this budget and make the changes we need to make in terms of the fiscal cliff, or or what i call the fiscal slope without ensuring that we ask the top 1% or 2% of the americans pay their fair share in income taxes. we all know that the top 1% or 2% is paying lower income taxes than any time in our history. they've had a great deal, president bush set that up for them but we as nation did better under the clinton tax policies where
long tradition in arkansas, let's not forget one of the great presidents of the united states, bill clinton. we work hard down there but i can't get too specific on our prospects there yet. >> if i could return to the administration for a minute, governor. obviously, some governors are lobbying the white house on what they would like to see happen in some of the fiscal cliffs negotiations and some of the cut thass republicans and others want to make in these negotiations could impact...
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one of the great presidents, bill clinton. we work very hard down there. tooannot get t specific of our prospects. >> some governors have been lobbying the white house on what they would like to see happen in some of the fiscal cliff negotiations and some of the cuts that republicans want to make in these negotiations could impact the state budget. what do you see as your bottom line and what the cut cannot do? >> let's be clear about this. the president has got this one right. we cannot balance this budget and make the changes we need to make in terms of the fiscal cliff without insuring that we ask the top 1% or 2% to pay their fair share in taxes. they're paying lower income taxes than in almost any time in our history since we implemented income tax. they have had a great deal. president obama said that up for them. -- president bush set that up for them. we ask the wealthy to pay for their fair share. what we had was economic prosperity. when you see the gains they're playing in congress right now, to suggest he could do this with deductions is not tr
one of the great presidents, bill clinton. we work very hard down there. tooannot get t specific of our prospects. >> some governors have been lobbying the white house on what they would like to see happen in some of the fiscal cliff negotiations and some of the cuts that republicans want to make in these negotiations could impact the state budget. what do you see as your bottom line and what the cut cannot do? >> let's be clear about this. the president has got this one right. we...
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so, hillary clinton i am for. i think it is really hard for a lot of presidents because the number one thing is to keep our ego out of it. i strongly support hillary clinton. i am very strong for education. i know that her being a democrat, i know that she would support obamacare and continue to support it and would not damage it in anyway. being a person who is impaired, i really appreciate that. host: last month there was a tribute, a video tribute, to hillary clinton. [video clip] >> she has put that all together in the pinnacle up until now in her public service which has in deer herd to millions and millions of people all over the world then the. ♪ >> she has been a splendid representative of the united states. >> she is doing it [indiscernible] ♪ >> in the end, it is not about being a good politician. it is about being a human being. >> we have always pushed human potential and promise forward. if you vbet on the side of human rights, human dignity, more countries may have the same extraordinary good for
so, hillary clinton i am for. i think it is really hard for a lot of presidents because the number one thing is to keep our ego out of it. i strongly support hillary clinton. i am very strong for education. i know that her being a democrat, i know that she would support obamacare and continue to support it and would not damage it in anyway. being a person who is impaired, i really appreciate that. host: last month there was a tribute, a video tribute, to hillary clinton. [video clip] >>...
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Dec 5, 2012
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on january 1 we go back to the clinton tax rates on everybody. number two, there's the beginning of a process of $1.2 trillion in spending cuts from the -- half from the pentagon and half from domestic spending. it would be gradual. so if we got to january 1 with nothing done, congress would still have time to act in both areas before the impact of those policies took effect. host: if congress disagree -- if investors start to doubt a deal could be reached, the consequences could prove to be severe and difficult to reverse. causing consumers and businesses to retrench, dampening investment. a genie you could not put back in the bottle. guest: i think there is some basis for that. what's happened in congress, it's been dysfunctional, is that we are doing things not by steady negotiations but by super brinksmanship. that's what happened in the debt ceiling fight last august. that's what happened in the budget debate in december of 2011. when we went right up to the midnight hour to determine whether we were going to keep the lights on in government
on january 1 we go back to the clinton tax rates on everybody. number two, there's the beginning of a process of $1.2 trillion in spending cuts from the -- half from the pentagon and half from domestic spending. it would be gradual. so if we got to january 1 with nothing done, congress would still have time to act in both areas before the impact of those policies took effect. host: if congress disagree -- if investors start to doubt a deal could be reached, the consequences could prove to be...
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Dec 4, 2012
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that is what bill clinton second term was about. he could keep him from getting to that point of bringing everything to gavel. >> this came from his best friend who runs a parking company. he said obama has been ridiculed in his brain. he is constantly working the room excuse to get the right conversation to move them forward. he's always thinking a few steps ahead. if i did eight incident be they would to see -- if i do a and they do b, it would be c. he was in this particular kind of business. he wanted to be in a longer- term business. he did not make enough concessions to the day-by-day noise of washington. >> i call this his pregame aptitude. he plays the game before the players take the field. the trick is when you get to be president. it can create a kind of reticence, a step back quality that you missed. all those variables change. >> i think he is learning. i altered his landscape. as i do that, i am ahead of the pack. >> you're talking about striving for greatness. he is going to need to strive for greatness and reorganize
that is what bill clinton second term was about. he could keep him from getting to that point of bringing everything to gavel. >> this came from his best friend who runs a parking company. he said obama has been ridiculed in his brain. he is constantly working the room excuse to get the right conversation to move them forward. he's always thinking a few steps ahead. if i did eight incident be they would to see -- if i do a and they do b, it would be c. he was in this particular kind of...
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also, a piece on hillary clinton. president truman's oldest grandson, who was the first truman to travel to japan. tonight on c-span 3, a look at hiroshima. a talk with his trip and what he learned it. learned through his words teacher made that his grandfather went through and now he went through in hiroshige of. 6:00 for those on the west coast on c-span 3. here is a preview. [video clip] >> i tried to look down and i saw so many dead bodies floating on the surface. people --'s so many the people suffered from the burned bodies. they went into water. it jumped into the river. >> that was a survivor of the bombings in hiroshima telling her story for the first time to daniel on his first visit to the two cities where the bomb was dropped the in 1945. you are listening for the first time. what did you see your role as as you were listening to it? >> just to be there to listen to her and to let her speak and to let her do this for the first time. >> for her understanding she was talking to the grandson of the man who ma
also, a piece on hillary clinton. president truman's oldest grandson, who was the first truman to travel to japan. tonight on c-span 3, a look at hiroshima. a talk with his trip and what he learned it. learned through his words teacher made that his grandfather went through and now he went through in hiroshige of. 6:00 for those on the west coast on c-span 3. here is a preview. [video clip] >> i tried to look down and i saw so many dead bodies floating on the surface. people --'s so many...
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restoring the clinton tax rates is something i would support. we supported them back in 1991 when bill clinton was running for president. no problem on that. it is a reasonable adjustment, but may not be sufficient to reach the targets we need and it does not help us in bipartisan bargaining, reaching a deal. i hope as this negotiation -- we ought to be at the irish times -- that they will not make a fetish of marginal tax rates street if they should go up some, but do they need to go back where they work? i do not know. lots of ways to increase taxes on rich people, and it may be that a hybrid of marginal tax increases and the kind of base- broadening loophole closing expenditure closing that simpson-bowles proposed should be part of the mix. raising marginal rates does not guarantee you will get your intended target. a very rich people depend more on investment income than on their labour income. if you want to get them -- and this is where mitt romney was able to pay a 14% tax rate on earnings of $14 million -- so if you are trying to get the
restoring the clinton tax rates is something i would support. we supported them back in 1991 when bill clinton was running for president. no problem on that. it is a reasonable adjustment, but may not be sufficient to reach the targets we need and it does not help us in bipartisan bargaining, reaching a deal. i hope as this negotiation -- we ought to be at the irish times -- that they will not make a fetish of marginal tax rates street if they should go up some, but do they need to go back...
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host: secretary of state hillary clinton early in december talked about hiv and aids and where we are in research, and said and aids free generation is not just a rallying cry, but the goal within our reach. what do you think of the statement and what does it mean for your organization, dr. fauci? guest: thank you for the question. secretary clinton has been a leader on the concept, and she introduced the concept of an aids-free generation, and the point she is making is 31 years into the pandemic we have the tools based on clinical research -- prevention tools, and diagnostic tools and treatment tools to turn around dramatically the projection of the pandemic globally. we are already starting to see that. it is a matter of implementing these things. treatment is striking -- the difference between 30 years ago in what we do now, not only to save the lives of individuals, but when you treat someone that is hiv infected and you bring down the level of virus to blow a detectable level, you -- -- to be lower deductible -- detectable level, you dramatically decrease the chance they would i
host: secretary of state hillary clinton early in december talked about hiv and aids and where we are in research, and said and aids free generation is not just a rallying cry, but the goal within our reach. what do you think of the statement and what does it mean for your organization, dr. fauci? guest: thank you for the question. secretary clinton has been a leader on the concept, and she introduced the concept of an aids-free generation, and the point she is making is 31 years into the...
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secretary clinton was in algeria to discuss mali among other issues approximately a month ago. the third challenge in mali is terrorism. we are gravely concerned about the presence and activities of terrorists and extremist groups in northern mali. al qaeda in the islamic magrab, the movement for unity and jihad in west africa known as mujoa and other affiliated groups have exploited the political unrest created by the march coup and the northern rebellion to expand their safe havens in northern mali and to impose their ideology on local communities throughout the northern part of the country. while these tactics remain alien to the vast majority of the population in the affected areas, aqim and majoa have established at least temporary relationships with a number of groups in northern mali and currently control the key cities of timbuktu, and nidal. any attempt to militarily oust aqim from the area must be african-led, it must be malian-led. it must be well planned, well organized and well resourced to be successful. military plans must also account for civilian security and h
secretary clinton was in algeria to discuss mali among other issues approximately a month ago. the third challenge in mali is terrorism. we are gravely concerned about the presence and activities of terrorists and extremist groups in northern mali. al qaeda in the islamic magrab, the movement for unity and jihad in west africa known as mujoa and other affiliated groups have exploited the political unrest created by the march coup and the northern rebellion to expand their safe havens in...
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going back to the clinton tax rates, remember, the average american family has taken a hit. median income four years ago was $54,000 a year. it is about $50,000 a year now. this portion of the population has been squeezed. adding taxes on 90% will not be helpful. how much do you want folks to bear? freezing those tax rates for the overwhelming majority of americans is a smart thing to do. host: you said fight later on. guest: the fight would start the next day. we could do what i'm talking about, and negotiations could continue. doing what i'm talking about does not violate what either side is fighting over. they both say this is something we want to do. why not make sure we do not have some last-minute failure at the end of december. guest: what gives you confidence that democrats would agree later on? guest: this is where i disagree with some of my colleagues. they seem to think the american people are leveraged, and this is the democrats leverage. our leverage is in the spending and entitlement issues. the president and his negotiators are smart and able people. they know
going back to the clinton tax rates, remember, the average american family has taken a hit. median income four years ago was $54,000 a year. it is about $50,000 a year now. this portion of the population has been squeezed. adding taxes on 90% will not be helpful. how much do you want folks to bear? freezing those tax rates for the overwhelming majority of americans is a smart thing to do. host: you said fight later on. guest: the fight would start the next day. we could do what i'm talking...
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bush and clinton administrations. both of you went to the same university. i'm sure you can agree on everything today. dr. zandi first. >> thank you for the opportunity. it is an honor to be here with kevin, a good friend of mine. let me say that these are my own personal views. lawmakers have to resolve three issues -- first, the fiscal cliff. second, raising the treasury debt ceiling, which as you know is becoming an issue rarely soon. third, achieving long-term fiscal sustainability. that is deficit reduction and tax increases and spending cuts that allow the gdp ratio to stabilize by the end of the decade. these three things need to be done now. in terms of the fiscal cliff, if policy is unchanged and we go over the cliff and there is still no change after that, the gdp in 2013 will 3.5 percentage points. subtract that and that is a severe recession. cbo and others are probably us are underestimating how severe that will be because confidence is very weak. it is unclear how the reserve would response to this. we need to scale back from the cliff. at the
bush and clinton administrations. both of you went to the same university. i'm sure you can agree on everything today. dr. zandi first. >> thank you for the opportunity. it is an honor to be here with kevin, a good friend of mine. let me say that these are my own personal views. lawmakers have to resolve three issues -- first, the fiscal cliff. second, raising the treasury debt ceiling, which as you know is becoming an issue rarely soon. third, achieving long-term fiscal sustainability....
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bill clinton in the white house. they came together to solve some big problems. welfare reform, health insurance reform. folks forget about health insurance reform. we did away with pre-existing conditions. did away with all of the impediments in the large group markets, what they call the plans, had great success in that area, and finally got back into some positive territory. to be truthful, this assumes that all the federal -- all the social security revenues, medicare revenues are getting spent on other projects rather than going in the trust fund and being preserved. we didn't really have a surplus. we were spending social security and medicare revenues to create a surplus. but we did have some better years then. then we go into the bush years. this is important. 9/11 changed the way this country deals with national security. a lot of programs going on much to my surprise, mr. speaker, you remember, we create add brand new federal department with the republican house, republican senate, and republican president. we created a brand new entitlement program, me
bill clinton in the white house. they came together to solve some big problems. welfare reform, health insurance reform. folks forget about health insurance reform. we did away with pre-existing conditions. did away with all of the impediments in the large group markets, what they call the plans, had great success in that area, and finally got back into some positive territory. to be truthful, this assumes that all the federal -- all the social security revenues, medicare revenues are getting...
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it is similar to what the former clinton chief of staff -- separate from that commission, he testified before the super committee last year and put forward his own proposal to try to break the impasse at that time. republicans say their current offer is not in that proposal, so it is not the simpsons-bowles plan that has gotten a lot of talk over the last few years, but it is modeled on a proposal from a leading democrat during these discussions, so they are hoping it will give some credibility going forward. the $800 billion they are offering is not the same as what john boehner offered in 2007. -- is the same as what john boehner offered in 2007. they will not accept any deal that keeps tax rates the same as well. >> thank you. >> thank you. >> you can read his proposal online by going to c-span.org and clicking to the lake. oklahoma congressman tom cole discusses the fiscal cliff negotiations and agrees with suggestions they should join president obama to extend the tax rates for the highest income earners the law professor john buckley looks at the history of the tax, plus your e-m
it is similar to what the former clinton chief of staff -- separate from that commission, he testified before the super committee last year and put forward his own proposal to try to break the impasse at that time. republicans say their current offer is not in that proposal, so it is not the simpsons-bowles plan that has gotten a lot of talk over the last few years, but it is modeled on a proposal from a leading democrat during these discussions, so they are hoping it will give some credibility...